Weekly Break-Out - Stock on weekly basis has given a Break-out with huge volumes making 34weeks high, while closing @ highest level in 35Weeks. Most of the moving averages have converged with 25DMA-249, 90DMA-250 & 200DMA-255, The stock Gapped-down on 05/Feb/2010 and gap level come to Rs.323-326 which would be important resistance on higher side. This stock being underperformer in whole rally can start to perform.
Value Buy- ABGSHIPYARD Cmp Rs.293 –Face value-10 Book Value-211 12Months trailing EPS=42 P/E-6.99 Market cap=Rs.1496crs (Oct-08-2010 Close) All time High Rs.1132 (04/Jan/2008) All time low Rs.62 (04/Feb/2009) 52Week High-346 Low-176
ABGSHIPYARD carries out shipbuilding and ship repair business. The Company's products include tugs and pusher crafts, bulk carriers, floating cranes and jack-up drilling rigs. Its other products include 102M side loader / newsprint / container ship and 83.5M DP2 diesel electric propulsion diving support vessel. The Companys shipyard has a lift capacity of 4,500 tons, side transfer facilities, concentrator (CNC) plasma cutting machine, bending rolls, hydraulic press, cold shearing machine, frame bending machine and steel processing machinery. During the fiscal year ended March 31, 2010, (fiscal 2010), the Company delivered 14 vessels. As of March 31, 2010, it delivered 122 vessels. During fiscal 2010, it produced and sold 13 ships and barges. During fiscal 2010, the Company completed the ship transfer system at the Dahej unit. During fiscal 2010, it bagged a order for the construction of three cement carriers of 20,000 deadweight tonnage.
